How companies use customer incentives

How companies use customer incentives

Companies are becoming increasingly creative in their choice of customer incentives. This is particularly important in the highly competitive entertainment industry. Let’s look at some of the most innovative customer incentives.

Free Apps

ESPN offers its customers a free ESPN App featuring sports news, info, highlights, and audio. Customers can also stream ESPN networks if they have a pay-TV subscription at no additional cost. A further customer incentive is that the App allows users to subscribe directly to ESPN+ with a vast array of additional live events, on-demand content, and shows that are not available on ESPN TV networks. The App is available on a wide variety of devices such as iOS, Xbox, and Amazon Fire TV.

Another area of the entertainment sector offers customer incentives. The iGaming industry has developed the jackpot king progressive jackpots, which can be played at UK online gaming provider Paddy Power. There are three levels of jackpots with some smaller prizes on offer. There is the main jackpot, Jackpot King, which has an average win of over $6,700, 000; the Regal Pot, with an average win of over $27,000; and the Royal Pot, with an average win of over $2,700. Each game is connected to the Jackpot King network and the jackpots are a supplement to the main slot games, so there is no need for players to spend extra money to qualify for these jackpots. These customer incentives enable companies to stand out from the crowd in highly competitive markets.

Customer credit cards

Many companies now offer their own branded credit cards. They encourage customers to spend with them by including a range of customer incentives. This has been taken to a whole new level by Amazon and Apple.

Amazon

Amazon has four credit cards offering a wide variety of customer incentives. There are the Amazon Rewards Visa Card and Amazon Store Card, alongside various cashback incentives such as 5% cashback for Prime members. Customers also receive an Amazon gift card upon approval.

The Amazon Secured Card gives Prime members 2% cashback along with the option to buy now and pay over a period of time. The Amazon Business American Express Card offers a variety of incentives, including 5% back on US purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market. This all comes amid the news that Amazon has renewed its rewards credit card deal with JPMorgan Chase.

Apple

Apple offers iPhone and Apple Watch customers an innovative Apple Card. The advantage of this card is that the payment information is stored on your iPhone. The company also uses features such as Face ID, Touch ID, and Apple Pay to increase privacy and security. Another feature of the Apple Card is the 3% unlimited Daily Cashback on each Apple purchase. Plus, there is the incentive of 2% daily cashback when customers use their iPhone or Apple Watch for purchases paid for with Apple Card. This increases to 3% when making purchases at selected merchants such as Ace Hardware, Uber Eats, and Walgreens.

So, we can see the importance of customer incentives in the competitive entertainment industry. Companies are constantly developing customer incentives to make them stand out from the crowd and the next innovation is likely to appear soon.